This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Casinos on Losing Streak: Wynn, Boyd

(Updated with Wynn and Harrah's quarterly results and stock prices.)

LAS VEGAS ( TheStreet) -- Casino operators are on a losing streak, as both Wynn Resorts (WYNN - Get Report) and Boyd Gaming (BYD - Get Report) have today reported yet another quarter of falling profit, sending shares of the companies tumbling.

Wynn saw its third-quarter earnings tank 33% to $34.2 million, or 28 cents a share, compared with $51.2 million, or 49 cents, in the year-ago period.
Casinos are struggling as consumers stay away from the slots.

The company did, however, managed expectations well; excluding property charges and other items, the company earned 33 cents a share, far surpassing analysts' estimates of 15 cents.

Revenue inched up to $773 million from $769 million last year. But this is still Wynn's fourth consecutive quarter of falling profit.

Similarly, Boyd is on a two-year losing streak, as its profit tumbled nearly 26% in the third quarter -- the eighth consecutive quarter in which the casino operator has reported a profit decline.

During the quarter, the company earned $6.3 million, or 7 cents a share, compared with $8.7 million, or 10 cents, in the year-ago period.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BYD $20.35 0.00%
ISLE $18.84 0.00%
LVS $44.32 0.00%
MGM $22.77 0.00%
WYNN $61.05 0.00%


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs